Is Parke Bancorp, Inc. (PKBK) a Buy? The Stock Formed Bullish Double Top

September 14, 2018 - By Clara Lewis

Parke Bancorp, Inc. (NASDAQ:PKBK) Logo

Investors sentiment increased to 4.9 in 2018 Q2. Its up 3.68, from 1.22 in 2018Q1. It increased, as 3 investors sold Parke Bancorp, Inc. shares while 7 reduced holdings. 10 funds opened positions while 39 raised stakes. 5.92 million shares or 176.05% more from 2.14 million shares in 2018Q1 were reported.
Piedmont Inv Advsrs Limited Liability Com holds 0% or 120 shares in its portfolio. Tower Research Capital Limited (Trc) owns 0% invested in Parke Bancorp, Inc. (NASDAQ:PKBK) for 2,078 shares. Panagora Asset Mngmt owns 0% invested in Parke Bancorp, Inc. (NASDAQ:PKBK) for 3,561 shares. Great West Life Assurance Can has invested 0% in Parke Bancorp, Inc. (NASDAQ:PKBK). Ameritas Inv reported 552 shares. Dimensional Fund Advsr L P owns 95,701 shares. Citigroup owns 0% invested in Parke Bancorp, Inc. (NASDAQ:PKBK) for 2,112 shares. Moreover, Royal State Bank Of Canada has 0% invested in Parke Bancorp, Inc. (NASDAQ:PKBK). 165,319 are owned by Philadelphia Tru. Legal And General Grp Public Ltd Company reported 0% in Parke Bancorp, Inc. (NASDAQ:PKBK). State Of New Jersey Common Pension Fund D, New Jersey-based fund reported 138,231 shares. Earnest Partners Limited Liability has invested 0% of its portfolio in Parke Bancorp, Inc. (NASDAQ:PKBK). Vanguard Gru holds 0% or 275,790 shares in its portfolio. Basswood Capital Ltd Liability Corporation invested in 468,509 shares or 0.52% of the stock. Pacific Ridge Cap Prtnrs Ltd Liability reported 107,464 shares or 0.59% of all its holdings.

Since April 20, 2018, it had 4 insider buys, and 3 selling transactions for $297,319 activity. Shares for $119,250 were sold by KRIPITZ JEFFREY H on Thursday, July 26. DALTON DANIEL J sold 5,000 shares worth $120,027. The insider DOBSON ARRET F bought $5,161.

The chart of Parke Bancorp, Inc. (PKBK) shows a double top with $24.88 target or 7.00 % above today’s $23.25 share price. The 5 months chart pattern indicates low risk for the $227.25 million company. It was reported on Sep, 14 by Finviz.com. If the $24.88 price target is reached, the company will be worth $15.91M more. Double tops are rare but powerful chart patterns.

The stock increased 0.65% or $0.15 during the last trading session, reaching $23.25. About 2,532 shares traded. Parke Bancorp, Inc. (NASDAQ:PKBK) has risen 32.69% since September 14, 2017 and is uptrending. It has outperformed by 17.07% the S&P500.

Parke Bancorp, Inc. operates as the bank holding firm for Parke Bank that provides personal and business financial services to individuals and small to mid-sized businesses. The company has market cap of $227.25 million. The firm offers various deposit products, including checking, savings, money market, and individual retirement accounts, as well as certificates of deposit. It has a 14.75 P/E ratio. The Company’s loan portfolio comprises residential and commercial real estate construction loans; working capital loans and lines of credit; demand, term, and time loans; equipment, inventory, and accounts receivable financing; and residential mortgage loans, home equity lines of credit, fixed rate second mortgages, new and used auto loans, and overdraft protection products.

Parke Bancorp, Inc. (NASDAQ:PKBK) Institutional Positions Chart

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